The standalone SAAR of total housing starts for all areas in Canada in May was 264,506 units—a month-over-month increase of 10%—CMHC reported.
News in end use
Investment in Canadian Building Construction Declines in April
Investment in building construction decreased 2.0% month-over-month to $20.5 billion (CAD) in April.
Canadian Existing-Home Sales Trend Lower in May
Home sales activity recorded over Canadian MLS® Systems declined 0.6% between April and May, CREA reported. Home prices moved sideways.
US Existing-Home Sales Decline in May as Home Prices Continue to Climb
US existing-home sales fell 1.7% month-over-month and 2.9% year-over-year on a seasonally adjusted basis, Redfin reported.
US Residential Building Materials Prices Little Changed in May
Inputs to residential construction, goods less food and energy, declined 0.09% in May, the BLS and NAHB reported.
Associated Builders and Contractors Construction Backlog Indicator Declines in May
The ABC Construction Backlog Indicator declined to 8.3 months in May. Year-over-year, the indicator is down 0.6 months.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for June
The University of Michigan’s Index of Consumer Sentiment declined to a reading of 65.6 in June. This is a month-over-month decline of 5.1% but up 2.2% year-over-year.
Fixed-Rate Mortgages Decline Further in the Week Ending June 13th
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.99%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Trend Higher in May
Mortgage applications for new-home purchases increased 1.0% month-over-month and 13.8% year-over-year, MBA reported.
US Producer Price Index for Final Demand Declines 0.2% Month-Over-Month in May
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.2% in May. This follows a 0.5% increase in April and a 0.1% decline in March.